No two
countries’ responses have polarized commentators over the past five years more
than the contrasting post-crisis policies in Iceland and Ireland. In a paper
published in Economic Affairs
(availablehereas
a PDF) I contrast the policies enacted by Iceland and Ireland, perhaps the two
countries most affected by the liquidity freeze of 2008. A common conclusion
has been that one country did everything right and the other did everything
wrong, however, I take a more pragmatic approach. There are some positive
aspects in each case, and other aspects we can do without.
At the risk of
over-simplifying their situations, the key policy differences are:….To ReadMore….
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